Beacon Roofing Supply, Inc. (NASDAQ:BECN)‘s stock had its “buy” rating reiterated by research analysts at KeyCorp in a research report issued to clients and investors on Sunday. They currently have a $56.00 target price on the stock. KeyCorp’s price target points to a potential upside of 6.83% from the company’s previous close.

A number of other equities analysts have also recently issued reports on BECN. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Beacon Roofing Supply in a research note on Monday, October 2nd. Royal Bank Of Canada reduced their price objective on shares of Beacon Roofing Supply from $58.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Robert W. Baird reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Beacon Roofing Supply in a research note on Thursday. BidaskClub cut shares of Beacon Roofing Supply from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research cut shares of Beacon Roofing Supply from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. Beacon Roofing Supply currently has a consensus rating of “Buy” and an average price target of $52.73.

Shares of Beacon Roofing Supply (NASDAQ:BECN) opened at 52.42 on Friday. The firm has a market cap of $3.16 billion, a P/E ratio of 31.13 and a beta of 1.32. The stock’s 50 day moving average price is $49.89 and its 200-day moving average price is $48.19. Beacon Roofing Supply has a 12 month low of $39.57 and a 12 month high of $53.11.

Beacon Roofing Supply (NASDAQ:BECN) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.06). Beacon Roofing Supply had a net margin of 3.68% and a return on equity of 13.03%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the business posted $0.77 earnings per share. Beacon Roofing Supply’s revenue was up 5.3% compared to the same quarter last year. Equities research analysts anticipate that Beacon Roofing Supply will post $2.19 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in BECN. SG Americas Securities LLC bought a new position in shares of Beacon Roofing Supply during the second quarter worth $100,000. Advisors Asset Management Inc. boosted its position in shares of Beacon Roofing Supply by 36.7% during the second quarter. Advisors Asset Management Inc. now owns 2,105 shares of the company’s stock worth $103,000 after purchasing an additional 565 shares in the last quarter. Huntington National Bank boosted its position in shares of Beacon Roofing Supply by 3.8% during the second quarter. Huntington National Bank now owns 3,138 shares of the company’s stock worth $154,000 after purchasing an additional 116 shares in the last quarter. Lloyds Banking Group plc boosted its position in shares of Beacon Roofing Supply by 37.7% during the second quarter. Lloyds Banking Group plc now owns 3,694 shares of the company’s stock worth $180,000 after purchasing an additional 1,012 shares in the last quarter. Finally, Advisor Group Inc. boosted its position in shares of Beacon Roofing Supply by 8.9% during the second quarter. Advisor Group Inc. now owns 3,877 shares of the company’s stock worth $190,000 after purchasing an additional 316 shares in the last quarter. 91.22% of the stock is currently owned by institutional investors.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc is engaged in the distribution of residential and non-residential roofing materials in the United States and Canada. It also distributes complementary building products for residential and non-residential building exteriors. Its product portfolio includes residential roofing products, non-residential roofing products and complementary building products.

Analyst Recommendations for Beacon Roofing Supply (NASDAQ:BECN)

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